Parsons Corporation (NYSE:PSN) shares are trading higher on Thursday after the company disclosed that it secured a seat on the U.S. Air Force Comprehensive Construction & Engineering MATOC.
Details
The contract, managed by the Air Force Civil Engineering Center (AFCEC), has a $15 billion ceiling and supports the readiness and resilience of Air Force and Department of War facilities worldwide.
The contract includes a five-year initial ordering period plus five one-year options.
Under the MATOC, Parsons will compete for task orders to provide design and construction management for new facilities, along with maintenance, renovation, and restoration of existing infrastructure.
The contract includes administrative, airfield, utility, and critical infrastructure projects, enhancing mission readiness.
Parsons’ solutions support operational success and build on its ongoing USAF work, including the $1.5 billion AFCEC Environmental Services Contract awarded in April 2025.
Air Defense Contract
The firm landed an $88 million single-award task order to support base air defense systems at U.S. Air Forces in Europe – Air Forces Africa (USAFE-AFAFRICA) at Ramstein Air Base in Germany.
The three-year effort will add to the company’s existing commitments under the broader ABAD program. With this award, Parsons’ 2025 total value under ABAD rises to about $192 million.
Analyst Ratings
Analysts have recently issued a variety of ratings for the company. On December 12, Citigroup initiated coverage on the stock with a Buy rating and set a price forecast of $86.00.
Prior to this, Jefferies maintained a Hold rating and raised the price forecast to $75.00 from $90.00 on December 11.
TD Cowen also upgraded the stock to Buy from Hold on December 10, setting a target price of $75.00, down from their previous $90.00.
Earlier, on December 8, Truist Securities maintained a Buy rating on the stock, although they reduced their target price from $100.00 to $90.00.
On the same day, Keybanc maintained its Overweight rating but lowered its target price to $81.00 from the previous $93.00. The range of target prices set by these analysts indicates a mixed outlook for the company’s stock.
PSN Price Action: Parsons shares were up 0.51% at $60.51 at the time of publication on Thursday, according to Benzinga Pro data.
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